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Tiger Woods?

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  1. +1 Most (but not all) medics I know are completely out of touch, with regards to pay, mobility requirements, working hours, job security, continuing education, out of pocket costs and stress for most other educated workers, as are others who have been more or less institutionalised via the school -> university -> publically funded institution path. There has been nothing posted on this thread to suggest that my personal sample is unusual. Certainly, by their mid 30s, to a (wo)man their lives had reached a reasonable middle class existence - nice house, plenty of travel, time for hobbies, and in many cases the ability to afford one half of the partnership to stay at home to raise children. Now my medic friends are in their early 40s, their lives seem even more secure. My closest medic friend (who does know how lucky he is), travelled on the back of his medical degree during his late 20s, did a bit of research and now works as a part time GP whilst his wife stays at home with the kids, recently bought his first BTL for cash, as he didn't know what to do with the surplus. In how may other professions can you drift in the early part of your career, work part time in your late 30s early 40s, and end up in these sorts of circumstances? That someone could argue that a new GP who wasn't a partner was somehow hard done by for being on an initial contract of £60k is, quite frankly, mind boggling. Normally I would expect to see such sentiments expressed in the vicinity of ones such as "let them eat cake." (Others, by the way, have to deal with grim life and death situations in less salubrious and more distressing circumstances than your average GP. Consider the pay of an ambulance worker/paramedic.)
  2. Your quoted story sounds like massive insider trading to me. I thought you went to jail for that...
  3. Dear Lord, Save us all from Claire Fox. Thank you, Tiger
  4. What a moron. No wonder her husband works away from home. Editred to add: So she has lived in this country how long? Can't be bothered to learn the language, so certainly clueless about the current market, but wants top dollar? Jesus wept! Also interesting how she changes here tune after getting blasted to "it's my husband who wants the inflated price..."
  5. Who said the maximum was scenario independent? Though if the set of plausible scenarios is compact, it doesn't really matter. In a simple model, if the tax take is a continuous function and the end points are both 0, then there is an internal maximum. If you want a more complex multidimensional model of taxation, then Tychonoff's theorem (or similar) will guarantee a similar result. I didn't say I knew what the appropriate function to maximise was though...
  6. The Laffer curve is as close to a mathematical truth in economics as you can get. The only thing to debate is where the sweet spot(s) is(are).
  7. I did the same myself in Australia many years ago and made the same observation. There are some great doctors out there, but the ones who are in it only for the money are just rotten. Medicine is a true profession, and that requires someone dedicated, and such dedication should reap rewards...but nothing makes me angrier than the dangerous monkeys on $250kpa+ at my local GP surgery.
  8. More likely, would you sell for a low price? This always seems to happen when prices drop significantly.
  9. Australia has quite a fair system with respect to home owners versus non-owners. Most benefits here allow you to have non-trivial liquid assets. In particular, there is a clear disticntion made between home owners and non-home owners. For example, to get parenting payment (basically being paid more than the dole ot raise children) if you do not have ahome, you can have about $400k in other assets, whilst a home owner cannot have anywhere near as much before the benefit is reduced.
  10. I'm going to play devils advocate here: It may not be illogical. It could arise from a very deep suspicion of government and the financial classes. A house will always be worth at least *something* and rent will always be some reasonable proportion of the average wage. Pensions funds can be looted, and currency value can depreciate to zero. Yes, you might lose 50% of the value of a house, but is that not better than losing 95% of the value of your pension when the market crashes, the government prints and all the pension funds are required by law to keep 75% of their assets is "safe" low yielding government bonds? Over a 30 year period, housing might be a better bet than a pension, even if it is overpriced now.
  11. Which just goes to show that they aren't "talent" that we must keep at "any cost", but overpaid, over-connected morons.
  12. Yes. Most people don't know anything about this particularly nasty bit of insider trading by the BoE pension fund. Utterly criminal.
  13. It's never too late to do an Iceland. It couldn't be worse than what they have let themselves in for already.
  14. Diamonds are an incredibly bad investment. They are common and their price is maintained only by strong monopolistic practices. Unless you are one of the very few approved dealers, you can forget about buying diamonds at wholesale prices and getting a fair price for a second hand diamond. Used jewelry tends to fetch 20%-35% of the initial price paid. You have to pay VAT on diamonds. That adds 20% to the buy sell spread straight away. Would you buy shares if you had to pay 20% of their value to the government upon purchase? I think not! Over and above that, there are many ripoffs and scams involving diamonds. You have to be a real expert to avoid these sorts of traps, and require the correct equipment to test diamonds. Any serious seller will see you coming, and you will be fleeced. Pricing diamonds requires much experience, even if you have the Rapaport wholesale price list. Do you really think you can tell the difference between a £1000 and a £1500 diamond? If you want a portable commodity, buy gold or similar. The buy/sell spread is no more than 5%, much lower than diamonds 70%, and you are much less likely to be scammed. Seriously, just forget about diamonds.
  15. I'll remember to use that argument at my bankruptcy hearing.
  16. Absolutely. What's even worse is when you bust your gut for 4 years on a project and management, with a classic display of the Dunning-Kruger effect, destroy the company by an ill considered purchase (which you warned them about, repeatedly. Hint - you do not make your decisions about the core components of your product by the particular tax structure you can build around them.) I now work for myself. If I screw up and waste 4 years of my life, that is something I can deal with. When someone else does it...
  17. You, sir, have a great career in the ONS ahead of you.
  18. All other things being equal, the imputed rent should increase as the proportion of owner occupiers increases. In 1963 home ownership was running in the mid 40%, say 45%. Home owenrship is now approx 68%, a 50% increase. Hence, all other things being equal, it shoudl now amount to 3% of GDP based on the 1963 figure. That extra 5% requires a lot of explaining. One other thing: does anyone know if mortgage and other debt payments are part of GDP? If so, is there double counting going on here?
  19. You almost sound like you are describing the Occupy movement. That hasn't ended well, iirc.
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